Economics Past Questions

Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

48 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

48 questions
Question 1 of 8 48 total questions
Question 21
waec 2015

which of the following is not a reason for abnormal demand

Aprice of the commodity
Bgoods of ostentation
Cgiffen goods
Drare commodity
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Question 22
waec 2015

If the price of floor rises, then bread

Ademand curve will shift to the left while supply curve will shift to the right
Bsupply curve will shift to the left
Csupply curve will shift to the right
Ddemand curve will shift to the right while supply curve remains unchanged
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Question 23
waec 2015

which of the following is not an effect of many middlemen in the chain of production

Ashortage of commodities
Blow retail prices
Choarding of goods
Dhigh retail prices
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Question 24
waec 2015

A disadvantage of the mean as measure of central tendency is that?

Ais affected by extreme values
Bcan only be used for continuous data
Ccannot be used to measure the qualities of a population
Dcannot be determined in group data
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Question 25
waec 2015

The following constitute the criteria for identifying an economic system except?

Aownership of resources
Bscarcity of resources
Cmethod of decision making
Dmotivation for production
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Question 26
waec 2015

An outward shift of the production possibility curve shows that?

Aproduction is shifting to the left
Bresources are under-utilized
Ceconomic growth has taken place
Dfactors of production are moving outward
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Question 27
waec 2015

which of the following can be described as land

Aforest
Bdiamond
Croads
Dcrude oil
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Question 28
waec 2015

Economics is regarded as a science because it?

Astudies laws that govern human behaviour
Buses scientific method to explain human behaviour
Cmakes use of controlled experiments to explain human behaviour
Dmakes use of machines to study human behaviour
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